May 7, 2019 / 5:49 AM / 2 months ago

Pandora Q1 profit beats forecast, announces more job cuts in Thailand

COPENHAGEN, May 7 (Reuters) - Jewellery maker Pandora’s core profit in the first quarter came in above expectations on Tuesday while it said it would lay off an additional 1,200 people at its production facilities in Thailand as part of a cost-cutting programme.

First-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) fell 12 percent from the same period the previous year to 1.5 billion Danish crowns ($225.23 million), above the 1.3 billion expected by analysts in a Reuters poll. ($1 = 6.6598 Danish crowns)

Reporting by Stine Jacobsen; Editing by Jacob Gronholt-Pedersen

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